Click on the Detail Button to view the Formula Sheet.
You are quoted the following market rates:
spot USD/JPY 123.65
1M (30-day) USD. 2.15%
1M (30-day) JPY 0.10%
What is 1-month USD/JPY?
A. 123.44
B. 123.65
C. 123.86
D. 123.90
Click on the Detail Button to view the Formula Sheet. A forward-forward loan creates an exposure to the risk of:
A. Higher interest rates
B. Lower interest rates
C. Steepening yield curve
D. Parallel shift downwards in the yield curve
Click on the Detail Button to view the Formula Sheet. The mid-rate for USD/CHF is 1.3950 and the mid-rate for AUD/USD is 0.7060. What is the mid- rate for CHF/AUD?
A. 0.9849
B. 1.0154
C. 1.9759
D. 0.5061
Click on the Detail Button to view the Formula Sheet. If GBP/USD is 1.5350-53 and USD/JPY is 106.5053, what is GBP/JPY ?
A. 163.48-56
B. 163.51-52
C. 69.36-39
D. 69.38-39
Click on the Detail Button to view the Formula Sheet. If spot GBP/CHF is quoted 2.3875-80 and the 3month forward outright is 2.3660-70, what are the forward points?
A. 21.5/21
B. 210/215
C. 215/210
D. 21/21.5
Click on the Detail Button to view the Formula Sheet. 3-month EUR/USD FX swaps are quoted to you at 15/19. If the "points are in your favour", what have you done?
A. Bought and sold 3-month EUR/USD through the swap
B. Sold and bought 3-month EUR/USD through the swap
C. Made the quote
D. Cannot say
Click on the Detail Button to view the Formula Sheet. What is the Gold Offered Forward Rate?
A. The price differential between spot and forward gold prices
B. The rate at which dealers will lend gold against US dollars
C. The implied forward price of gold
D. The price of gold for forward delivery
Click on the Detail Button to view the Formula Sheet. What is an FX swap?
A. An exchange of two streams of interest payments in different currencies and an exchange of the principal amounts of those currencies at maturity
B. A spot sale (purchase) and a forward purchase (sale) of two currencies agreed simultaneously between two parties
C. An exchange of currencies on a date beyond spot and at a price fixed today
D. None of the above
Click on the Detail Button to view the Formula Sheet. If I say that I have "bought and sold" EUR/USD in an FX swap, what have I done?
A. Bought EUR and sold USD spot, and sold EUR and bought USD forward
B. Bought EUR/USD spot and sold EUR/USD forward
C. Taken a EUR loan in exchange for making a USD loan with the same counterparty
D. All of the above
Click on the Detail Button to view the Formula Sheet. If 6-month EUR/AUD is quoted at 29/32, which of the following statements is correct?
A. EUR rates are higher than AUD rates in the 6-month
B. AUD rates are higher than EUR rates in the 6-month
C. There is a positive EUR yield curve
D. There is not enough information to decide
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